Raising Money for Mental Health Practitioners

With these bank loans for mental health practitioners, the SBA guarantees the lender that the loan will be repaid. This mental health practitioners loan for $110,000 was given to a New Jersey entrepreneur in 2002.

This small firm knew how to go about getting a business bank loan. Based in Williamstown, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Minotola National Bank, based in Hammonton, New Jersey.

SBA Loan Borrower

COMPANY TYPE: HEALTH PRACTITIONER OFFICE OR CLINIC
WILLIAMSTOWN, NJ 08094

SBA Loan Lender

MINOTOLA NATIONAL BANK
14 TILTON RD
HAMMONTON, NJ 08037

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8049 - Health Practitioner Office or Clinic

NAICS Code

621330 - Mental Health Practitioners

Loan Approval Date

3/15/2002

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Microlending as a Small Business Funding Source

Best Banks for Small Business in Hammonton, New Jersey

Where to Get an SBA Loan New Jersey